The RiNo office building, just six years old, houses the headquarters of Alterra, as well as a food hall. “This is not a situation of a loan that’s termed out or substantially un-leased,” the developer said.
Monfort said he sees Tom’s Diner as a cautionary tale. “We’re staring down the barrel of the same situation here.”
The firm made $38 million in profit last year after losing $55 million the year before, per an SEC filing.
A school-turned-hotel and a school-turned-apartment-building were among the winners.
Lakewood and Centennial have also been discussing easing restrictions.
The buyer appears to be linked to a major local homebuilder.
Dish Network plans to sell its Littleton office campus to an entity linked to the company’s founder, then lease it back. Conx Corp., a special purpose acquisition company, said in a March 11 filing with the U.S. Securities and Exchange Commission that it is set to pay $26.75 million to buy the 5701 S. Santa… Read more »
Four council members voted against the financing arrangement for the deal.
The regulations regarding income-restricted housing went into effect in July 2022. Hundreds of projects are still working to be “grandfathered in” under the previous rules.
The head of BMC Investments said the project has been in the works for 9.5 years. Midway through, he sought a partner.
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